Is Momentum Building For BetaPro S&P/TSX 60 2x Daily Bull ETF (HXU.TO)?

BetaPro S&P/TSX 60 2x Daily Bull ETF (HXU.TO) has watched the Triple Exponential Moving Average (TEMA) of it’s share price trend higher over the past 5 session.  This is a potential signal that strength is building for the upward trend.  TEMA is a unique combination of a single exponential moving average, a double exponential moving average, and a triple exponential moving average that provides less lag than any of those three individually. It can be used instead of traditional moving averages for smoothing price data or other indicators.  TEMA can also be used as a momentum indicator.  Consistent negative value suggests momentum is decreasing while a positive trend suggests increasing momentum.

Traders may be interested in additional technical levels on shares of BetaPro S&P/TSX 60 2x Daily Bull ETF (HXU.TO). After a recent check, the Williams %R was spotted at -31.25. Levels can range from 0 to -100. A number charting between -80 to -100 may be typically viewed as strong oversold territory. A value between 0 to -20 would represent a strong overbought condition. As a momentum indicator, the Williams R% may be used with other technicals to help define a specific trend.

BetaPro S&P/TSX 60 2x Daily Bull ETF (HXU.TO) presently has a 14-day Commodity Channel Index (CCI) of 61.04. Typically, the CCI oscillates above and below a zero line. Normal oscillations tend to stay in the range of -100 to +100. A CCI reading of +100 may represent overbought conditions, while readings near -100 may indicate oversold territory. Although the CCI indicator was developed for commodities, it has become a popular tool for equity evaluation as well. Checking on another technical indicator, the 14-day RSI is currently sitting at 52.46, the 7-day rests at 54.93, and the 3-day is presently at 49.39.

The Relative Strength Index (RSI) is a highly popular technical indicator. The RSI is computed base on the speed and direction of a stock’s price movement. The RSI is considered to be an internal strength indicator, not to be confused with relative strength which is compared to other stocks and indices. The RSI value will always move between 0 and 100. One of the most popular time frames using RSI is the 14-day.

Moving average indicators are commonly tracked by technical stock analysts. Many traders will use a combination of moving averages with multiple time periods to help spot stock trend direction. One of the more popular combinations is to use the 50-day and 200-day moving averages. Investors may use the 200-day MA to help smooth out the data a get a clearer long-term picture. They may look to the 50-day or 20-day to get a better grasp of what is going on with the stock in the near-term. Presently, the 200-day moving average is at 32.16, and the 50-day is 31.86. The 14-day ADX for BetaPro S&P/TSX 60 2x Daily Bull ETF (HXU.TO) is standing at 8.09. Many chart analysts believe that an ADX reading over 25 would suggest a strong trend. A reading under 20 would suggest no trend, and a reading from 20-25 would suggest that there is no clear trend signal.

Leave A Reply

Your email address will not be published.